UPDATE: Citi Upgrades Vanda Pharmaceuticals (VNDA) to Buy

(updating comment)

Citi analyst Joel Beatty upgraded Vanda Pharmaceuticals (NASDAQ: VNDA) from Neutral to Buy with a price target of $14.00.

The analyst comments "We’re upgrading to Buy/High Risk, and maintaining our TP of $14. There’s nothing in the earnings update that substantially changed our outlook for the company (though new patient Hetlioz scripts hitting an all-time high in September is incrementally encouraging to us). That said, with the stock having pulled back 16% since early August, we believe risk to the upside is now substantially larger than risk to the downside."

For an analyst ratings summary and ratings history on Vanda Pharmaceuticals click here. For more ratings news on Vanda Pharmaceuticals click here.

Shares of Vanda Pharmaceuticals closed at $10.09 yesterday.

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